July Housekeeping, Reminders & Updates

Written by: Mark E. Ruddy, Esq. Maria Fielding National Futures Association (“NFA”) Proposes Virtual Currency Activities Disclosure Requirements NFA submitted an Interpretive Notice to the Commodity Futures Trading Commission (“CFTC”) regarding virtual currency disclosure requirements. Due to the unique nature of virtual currency activities, NFA has determined that customers may not fully understand the nature of and potential risks involved in virtual currency activities. In the notice, NFA also reminds Members of Compliance Rule 2-29, which prohibits the use of any promotional material that is misleading or deceptive; something Members should also consider when drafting virtual currency disclosure materials. Details…